Four Pakistani banks—United Bank Limited (UBL), National Bank of Pakistan (NBP), Bank Alfalah, and Bank of Punjab—have been ranked among the top 10 best-performing banks in the Asia-Pacific region for 2024. This recognition comes from S&P Global Intelligence, which evaluated banks across the region.
UBL achieved an outstanding return of 159.7%, securing second place in the rankings. It was followed by NBP with a return of 108.4%, Bank Alfalah with 107.1%, and Bank of Punjab with 98.4%, all earning their spots in the top 10. These remarkable results highlight the resilience and strong performance of Pakistani banks despite challenging economic conditions in the past.
In addition to these top performers, two other Pakistani banks, Allied Bank and Habib Metropolitan Bank, also demonstrated exceptional performance. They were ranked 14th and 15th in the Asia-Pacific region, achieving returns of 94.5% and 93.2%, respectively.
The impressive success of these banks is largely attributed to Pakistan’s economic recovery during the second half of 2024. The implementation of an IMF funding program played a significant role in stabilizing inflation and restoring investor confidence. This economic improvement provided a solid foundation for the banking sector to thrive.
While Pakistani banks showed strong growth, slower economic performance in countries like China and India impacted their financial institutions negatively. The contrast highlights the exceptional progress made by Pakistan’s banking sector.
Furthermore, the success of these banks has turned them into blue-chip stocks on the Pakistan Stock Exchange (PSX), which has reached record-high levels, reflecting growing investor trust in the country’s economy.
This achievement underscores the vital role of financial institutions in driving economic growth and positions Pakistani banks as a key force in the Asia-Pacific region.
